DUBAI, (Pakistan Point News - 24th Sep, 2025) A main plenary session, titled “The Philosophy of Trade in Dubai”, offered in-depth insights on the economic vision that transformed Dubai into a global hub for trade, business, and finance.
The session, organised as part of Mohammed bin Rashid Leadership Forum, featured Abdul Aziz Al Ghurair, Chairman of the board, Al Ghurair Investment Group, and Mohamed Alabbar, Founder and Managing Director of Emaar Properties.
The speakers highlighted Dubai’s distinctive model of commerce, affirming that trade in the city is not merely a profession, but a deeply rooted legacy passed down through generations and embedded in the fabric of daily life, from alleyways to majlis gatherings.
They traced the forward-looking vision driving Dubai to the late Sheikh Rashid bin Saeed Al Maktoum who built a port before there was cargo. His legacy was carried on by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, who championed the principle of “leadership, not imitation”. The speakers said both leaders laid the foundation for a new market paradigm, which was not governed solely by the laws of supply and demand, but shaped by courage, boldness, and visionary foresight.
The session addressed several main pillars that consolidated Dubai’s leading position on the global trade map including bold decisions, nurturing a new generation of traders, anticipating and overcoming challenges posed by market shifts, globalization and technological advancements, as well as strengthening the role of family businesses.
Al Ghurair highlighted Dubai’s exceptional vision in establishing an integrated framework that created solid commercial foundations in the emirate, both regionally and internationally.
He stressed that Dubai’s current economic approach is built on a genuine partnership between the government and the private sector.
Regular engagement with traders also offered valuable insights into their needs, helping shape strategic projects. This approach removed bureaucratic barriers, empowering traders to unleash their creativity and entrepreneurial mindset, as well as gain more independence to establish ventures.
Al Ghurair stressed that the growth of family businesses in Dubai stems from the leadership’s vision that recognized these entities as vital pillars of the national economy. Deeply rooted in the history of trade, family businesses are seen as an integral part of the emirate’s social and cultural fabric.
Al Ghurair noted that Dubai has established a solid legislative framework that empowered family businesses to grow, cope with major transformations, and transition robustly from one generation to the next.
Speaking of Dubai leadership’s bold decisions, Al Ghurair praised the freehold land ownership decision, which enables residents to buy property, as a major turning point in attracting foreign investment and cementing Dubai’s global leadership. He said the move expanded horizons for economic growth in the emirate.
Establishing internet City and Media City in Dubai were among the decisions that revolutionized Dubai’s economy. “These initiatives created integrated environments for creativity and innovation, setting Dubai apart from other cities and enhancing its attractiveness to major businesses and global talent,” stated Al Ghurair.
He pointed to the role of globalisation and technological advancements in reshaping trade and markets, emphasising the need for companies to develop strategies to maintain their competitive edge in a rapidly changing world. These major global shifts underscore the need to equip a new generation of traders with digital knowledge and essential future-ready skills, Al Ghurair said.
Al Abbar shared with the forum attendees the story of founding Emaar, reflecting on his leadership approach in the company’s early days, which was inspired by Dubai’s bold vision and steadfast belief in turning the impossible into reality.
Guided by teamwork, Al Abbar said he was driven by the conviction that every decision made would serve Dubai’s broader vision.
“We were never afraid to try. We saw every challenge as an opportunity to learn and grow. This approach enabled Emaar to set a global benchmark in the real estate development sector,” Al Abbar said.
He added that H.H. Sheikh Mohammed bin Rashid’s vision served as a compass that effectively steered the real estate sector through the immense challenges of the 1990s and the 2008 global financial crisis, paving the way for Dubai to become a leader in the world economy.
Al Abbar stated that Dubai’s navigation through the economic crisis and its ability to turn challenges into opportunities served as a global lesson in risk management, economic diversification, and agile governance.
He also highlighted the role of tourism and retail in creating diverse attractions that draw visitors from around the world, fueling the growth of Emaar and contributing to the broader expansion of Dubai’s economy.
The speakers concluded by highlighting the vast opportunities that lie ahead for trade and other economic sectors in Dubai. They encouraged aspiring entrepreneurs to learn from past lessons and embrace the leadership philosophy that shaped Dubai’s economic strength as a model for navigating future challenges and reaching new milestones.
They pointed to Dubai’s role in providing a nurturing environment for businesses and globally competitive advantages, noting that the success of entrepreneurs and businesses, in turn, further reinforces the emirate’s leading economic position on the world stage.
